----

----

----

|   |                                                                   | Page   |
|--------|------------------------------------------------------------------------|--------|
|   |                                                                   |   |
| 1.     | Definitions      and interpretation                                    | 1      |
| 1.1    | Definitions                                                            | 1      |
| 1.2    | Interpretation                                                         | 4      |
| 1.3    | Headings                                                               | 5      |
|   |                                                                   |   |
| 2.     | Exploitation      of Phosphagenics Intellectual Property               | 5      |
| 2.1    | License                                                                | 5      |
| 2.2    | Assignment                                                             | 6      |
| 2.3    | Sub-License                                                            | 6      |
|   |                                                                   |   |
| 3.     | Payments                                                               | 6      |
| 3.1    | Amount                                                                 | 6      |
| 3.2    | No      refund of Payments                                             | 7      |
|   |                                                                   |   |
| 4.     | Manufacture      and Sale of Products                                  | 7      |
|   |                                                                   |   |
| 5.     | Inspection      Right                                                  | 7      |
|   |                                                                   |   |
| 6.     | Confidentiality                                                        | 8      |
| 6.1    | Phosphagenics      Confidential Information                            | 8      |
| 6.2    | Licensee      Confidential Information                                 | 8      |
| 6.3    | Permitted      Disclosure                                              | 9      |
| 6.4    | Use      of Other Parties’ Names                                 | 9      |
|   |                                                                   |   |
| 7.     | Intellectual      Property                                             | 9      |
| 7.1    | IP Ownership                                                      | 9      |
| 7.2    | Infringement                                                           | 10     |
| 7.3    | Property      in and Sharing of Documents , Data and Other Information | 10     |
| 7.4    | Improvements                                                           | 11     |
|   |                                                                   |   |
| 8.     | Warranties      and Representations                                    | 11     |
| 8.1    | The      Licensee’s warranties and representations               | 11     |
| 8.2    | Phosphagenics’      warranties and representations               | 12     |
|   |                                                                   |   |
| 9.     | Liability      and Indemnities                                         | 13     |
| 9.1    | Phosphagenics      not liable; Phosphagenics indemnifies the Licensee  | 13     |
| 9.2    | The      Licensee indemnifies Phosphagenics                            | 14     |
|   |                                                                   |   |
| 10.    | Term      and Termination                                              | 15     |
| 10.1   | Term                                                                   | 15     |
| 10.2   | Termination      with Cause                                            | 15     |
|   |                                                                   |   |
| 11.    | Consequences      of Termination/Expiration                            | 15     |
| 11.1   | Return      of documents                                               | 15     |
| 11.2   | No      further rights                                                 | 16     |
|   |                                                                   |   |
| 12.    | Assignment                                                             | 16     |
| 12.1   | Restriction      upon Assignment                                       | 16     |
| 12.2   | Permitted      Assigns                                                 | 17     |
| 12.3   | Restriction      upon Sub-Contracting                                  | 17     |

----

| 13.    | Force      Majeure                             | 17     |
|--------|------------------------------------------------|--------|
| 13.1   | Force      Majeure Events                      | 17     |
| 13.2   | Reliance      Upon Force Majeure               | 17     |
|   |                                           |   |
| 14.    | Dispute      Resolution                        | 17     |
|   |                                           |   |
| 15.    | Notices                                        | 17     |
|   |                                           |   |
| 16.    | Governing      Law; Jurisdiction and Venue     | 18     |
|   |                                           |   |
| 17.    | General                                        | 18     |
| 17.1   | Relationship                                   | 18     |
| 17.2   | Further      acts                              | 18     |
| 17.3   | Expenses                                       | 18     |
| 17.4   | Amendments                                     | 18     |
| 17.5   | Waiver                                         | 19     |
| 17.6   | Counterparts                                   | 19     |
| 17.7   | Indemnities                                    | 19     |
| 17.8   | Entire      License Agreement                  | 19     |
| 17.9   | Survival      of certain provisions; no merger | 19     |

----

| 1. | Definitions      and interpretation |
|----|-------------------------------------|

| 1.1 | Definitions |
|-----|-------------|

|   | (a) | “Anti-Wrinkle Creams”      means proprietary formulations developed by Phosphagenics containing TPM      in combination with retinol, ubiquinone, acetyl octapeptide, l-carnosine      and such other additives as the parties may agree; provided, however, that      the Licensee will not have rights to anti-wrinkle cream products sold in      high-end, up-scale retail stores, such as (by way of example) Nieman      Marcus and Bloomingdales. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | “Company” means Phusion      Laboratories, LLC, a Delaware limited liability    company. |
|--------|-----|-----------------------------------------------------------------------------------------------------------|

|   | (c) | “Cosmetic Compounds”      means articles intended to be rubbed, poured, sprinkled, or sprayed on,      introduced into, or otherwise applied to the human body for cleansing,      beautifying, promoting attractiveness, or altering the appearance; provided, however, that a      product which contains an OTC Drug will not be deemed to be a Cosmetic      Compound even though it has the ancillary effect of cleansing,      beautifying, promoting attractiveness, or altering the      appearance. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | “Contribution Agreement”      means the Contribution Agreement, dated as of the Effective Date, to be      entered into by and between the Licensee, Phosphagenics, Phosphagenics,      Inc., a Delaware corporation, and the Company, the form of which is      attached as Exhibit B      hereto. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (e) | “Dietary Supplements”      means orally consumed products intended to provide nutrients to humans to      supplement any nutrient that may be missing from or not adequately      consumed in a person’s diet. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | “Drugs” means substances      or articles (other than a food or device) that are intended for use in the      diagnosis, cure, relief, treatment, or prevention of disease and any      articles intended to affect the structure or function of the body of man      or other animals. For the sake of clarity, Drugs do not include Cosmetic      Compounds or Dietary Supplements. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | “Field” means OTC Drugs      and Anti-Wrinkle Creams. |
|--------|-----|-------------------------------------------------------------------|

|   | (h) | “Governmental Entity”      means any entity exercising executive, legislative, judicial, regulatory      or administrative functions of or pertaining to any federal, state or      local government, or any international, multinational or other government,      and any department, commission, board, agency, instrumentality, political      subdivision, bureau, official or other regulatory, administrative or      judicial authority of any of theforegoing. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | “Improvements” means any      improvement, substantial alteration or modification to the Field and/or      the Non-Exclusive Field or to the method of delivering the Field and/or      the Non-Exclusive Field. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (j) | “Intellectual Property      Rights” means all rights of ownership and the exclusive entitlement      to claim ownership and/or registration of exclusive rights created under      or by copyright, design registration, patent registration, trade mark      registration and all other exclusive rights in or to intangible property,      including rights in present and future intangible property and rights in      information, including know-how, granted by law or equity from time to      time under a Law or otherwise in the Territory or any other jurisdiction      throughout the world. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (k) | “Know-How” means any and      all data, instructions, processes, formulae, trade secrets, expert      opinions and other information (in written or other tangible form)      including, without limitation, any chemical, pharmacological,      toxicological, clinical, assay, control and manufacturing data, biological      materials, manufacturing or related technology, analytical methodology,      chemical and quality control procedures, protocols, techniques,      improvements and results of experimentation and  testing. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (l) | “Law” means any      constitution, law, statute, treaty, rule, directive, ordinance,      requirement, compact or agreement with or by any Governmental Entity, any      Order and any rules or regulations of any self-regulatory      organization. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (m) | “Licensee Confidential      Information” means confidential information disclosed by the      Licensee to Phosphagenics that is identified by the Licensee as being      confidential under the terms of this License Agreement, but that does not      include any part of the Phosphagenics Confidential      Information. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (n) | “Licensee Intellectual      Property” means all Intellectual Property Rights, know-how,      technical information, data, improvements, and developments owned or      controlled by the Licensee relating to the Field and the Non-Exclusive      Field. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (o) | “Non-Exclusive Field”      means those products identified in Exhibit C      hereto. |
|--------|-----|-------------------------------------------------------------------------------------------------------|

|   | (p) | “Nonprescription Drugs”      means Drugs which in the United States may be dispensed without a      prescription issued from a licensed professional with governmental      approval to prescribe Drugs.  For the purposes of this License      Agreement, Nonprescription Drugs shall include, but not be limited to,      caffeine solely for use in energy-related      products.  Additionally, for the purposes of clarity,      Nonprescription Drugs shall include nicotine.  Additionally,      Nonprescription Drugs shall not include the drug      diclofenac.  Nonprescription Drugs also shall include those      products listed as such in the United States Homeopathic      Pharmacopeia.  For the avoidance of doubt, if a Drug is a      prescription Drug in the United States as of the Effective Date, but such      prescription Drug subsequently becomes a non-prescription Drug in the      United States, then such Drug will be deemed to be a “Nonprescription      Drug” for purposes of this LicenseAgreement. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (q) | “Operating Agreement”      means the agreement entered by the parties, the Company and      Phosphagenics, Inc., a Delaware corporation, contemporaneously with the      entry into this License Agreement, which sets out the operations of the      Company. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (r) | “Order” means any award,      injunction, judgment, decree, order, writ, determination, ruling, subpoena      or verdict or other decision issued, promulgated or entered by any      Governmental Entity of competentjurisdiction. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (s) | “OTC Drugs” means      Nonprescription Drugs that are permitted by law to be sold directly to      consumers in the United States. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (t) | “Patents” means all      letters patent and pending applications for, and disclosures related to,      patents of any jurisdictions throughout the world and all reissues,      reexaminations, divisions, continuations and extensions      thereof. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (u) | “Phosphagenics Confidential      Information” means confidential information disclosed by      Phosphagenics that is identified by Phosphagenics as being confidential      under the terms of this License Agreement, but does not include any      Licensee Confidential Information. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (v) | “Phosphagenics Intellectual      Property” means the Phosphagenics      Patents identified in Exhibit A, all      Intellectual Property Rights, know-how, technical information, data,      improvements, and developments owned or controlled by Phosphagenics      relating to the use of TPM. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (w) | “Phosphagenics      Technology” means the Patents identified in Exhibit A      and the Know How associatedtherewith. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------|

|   | (x) | “Program Patents” means      all patent applications lodged jointly in the names of Phosphagenics and      the Licensee during the course of and as a direct result of carrying out      their respective obligations under the Operating Agreement or the research      program contemplated therein. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (y) | “Program IP” means all      Program Patents, results, research data, know-how, materials, compounds,      inventions, and intellectual property relating to the Field or the      Non-Exclusive Field that are created by Phosphagenics or the Licensee      during the course of the term of the Operating Agreement or the research      program contemplated therein. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (z) | “Related Body Corporate”      means where a body corporate is a person that is related to such body      corporate, including, without limitation, the  following: |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | a      holding company of another bodycorporate; |
|--------|-----|--------------------------------------------------|

|   | (ii) | a      subsidiary of another body corporate;or |
|--------|------|------------------------------------------------|

|   | (iii) | a      subsidiary of a holding company of another body  corporate. |
|--------|-------|--------------------------------------------------------------------|

|   | (aa) | “Regulatory Approval”      means an approval of the Relevant Regulatory Authority permitting the      marketing of the Field and/or the Non-Exclusive Field in the Territory or      any part of the Territory. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (bb) | “Relevant Regulatory      Authorities” means a governmental authority, whether Federal, State      or municipal, regulating the importation, distribution, marketing and/or      sale of therapeutic substances in a country in the    Territory. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (cc) | “Term” has the meaning      given to that term in clause 10.1. |
|--------|------|----------------------------------------------------------------------------|

|   | (dd) | “Territory” means the      World, excluding the manufacture anywhere in the world for use in      Australia or high-end stores, and excluding the sale or distribution of      Anti-Wrinkle products in Australia. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ee) | “TPM” means tocopheryl      phosphate mixtures. |
|--------|------|-------------------------------------------------------------|

| 1.2 | Interpretation |
|-----|----------------|

|   | (a) | a      clause, exhibit, annexure or schedule is a reference to a clause, annexure      or schedule in or to this LicenseAgreement; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (b) | a      document (including this License Agreement) includes any variation,      amendment or replacement of it; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------|

|   | (c) | the      singular includes the plural and viceversa; |
|--------|-----|------------------------------------------------------|

|   | (d) | the      word “person” includes an individual, a firm, a body corporate, a      partnership, joint venture, an unincorporated body or association or any      government agency (including the Relevant Regulatory      Authorities); |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | an      agreement, representation or warranty in favour of two or more persons is      for the benefit of them jointly and each of them    individually; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | an      agreement, representation or warranty by two or more persons binds them      jointly and each of themindividually; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------|

|   | (g) | a      day is to be interpreted as the period of time commencing at midnight and      ending 24 hours later; |
|--------|-----|--------------------------------------------------------------------------------------------------------------|

|   | (h) | a      group of persons or things is a reference to any two or more of them      jointly and to each of themindividually; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------|

|   | (i) | A      reference to “$” is a reference to the lawful currency of the United      States; |
|--------|-----|------------------------------------------------------------------------------------------------------|

|   | (j) | a      statute, regulation, proclamation, code (which has the force of law),      ordinance or by-law includes all statutes, regulations, proclamations,      codes (which have the force of law), ordinances or by-laws amending,      consolidating or replacing it and a reference to a statute includes all      regulations, proclamations, ordinances and bylaws issued under that      statute; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (k) | the      words “include”, “including”, “for example” or “such as” are not used as,      and are not to be interpreted as, words of limitation and, when      introducing an example, do not limit the meaning of the words to which the      example relates to that example or examples of a similar kind;      and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (l) | if      a period of time dates from a given day or the day of an act or event, it      is to be calculated exclusive of thatday. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------|

| 1.3 | Headings |
|-----|----------|

| 2. | Exploitation      of Phosphagenics IntellectualProperty |
|----|---------------------------------------------------------|

| 2.1 | License |
|-----|---------|

|   | (a) | Phosphagenics      hereby grants to the Licensee: |
|--------|-----|---------------------------------------------------|

----

|   | (i) | an      exclusive, royalty-free, paid-up license to exploit the Field embodying      the Phosphagenics Technology within the Territory;  and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | a      non-exclusive, royalty-free, paid-up license to exploit the Non-Exclusive      Field embodying the Phosphagenics Technology within the Territory for use      in a product combining the Non-Exclusive Field with an OTC Drug or in a      product that is part of a regimen or routine that includes the application      of an OTC Drug.  By way of example only, the Licensee may be      permitted to use the licensed technology in a non-OTC Drug product as part      of a regimen or routine that includes the application of an OTC Drug. For      illustrative purposes only, if an acne treatment program includes the use      of non-OTC Drug products containing TPM, then the Licensee may market and      sell cleaning and moisturizing products containing  TPM. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Phosphagenics      shall not, directly or through third parties, exploit the Phosphagenics      Intellectual Property with respect to the Field in the      Territory. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.2 | Assignment |
|-----|------------|

| 2.3 | Sub-License |
|-----|-------------|

| 3. | Payments |
|----|----------|

| 3.1 | Amount |
|-----|--------|

|   | (i) | $      1,000,000; and |
|--------|-----|-----------------------|

|   | (ii) | the      issue of 1,440,000 shares of common stock, par value $0.0005 per share, of      the Licensee. |
|--------|------|--------------------------------------------------------------------------------------------------------|

----

| 3.2 | No      refund of Payments |
|-----|----------------------------|

| 4. | Manufacture      and Sale of Products |
|----|---------------------------------------|

|   | (a) | The      Licensee hereby has the exclusive right, for the Term, to manufacture      and/or otherwise exploit the Field in the Territory and Phosphagenics      shall, subject to the terms contained in the Operating Agreement, be the      supplier of TPM to the Licensee to enable it to manufacture and/or      otherwise exploit the Field. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Licensee hereby has the non-exclusive right, for the Term, to manufacture      and/or otherwise exploit the Non-Exclusive Field worldwide and      Phosphagenics shall, subject to the terms contained in the Operating      Agreement, be the supplier of TPM to the Licensee to enable it to      manufacture and otherwise exploit the Non-Exclusive Field in accordance      with this License Agreement. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | The      Licensee shall use commercially reasonable efforts to develop the Field in      the Territory.  Without limiting any of the foregoing or being      limited thereby, the Licensee shall be responsible for ensuring that the      activities it undertakes or causes to be undertaken to develop the Field      are consistent with and supportive of the efficient and expeditious      development and regulatory approval ofField. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | The      Licensee shall use commercially reasonable efforts to commercialise the      Field throughout the Territory. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------|

|   | (e) | Without      limiting any of the foregoing or being limited thereby, the Licensee shall      be responsible for ensuring that the activities it undertakes or causes to      be undertaken to commercialise the Field are consistent with and      supportive of the ensuring that all commercially reasonable efforts are      used to market, promote, offer for sale and sell the Field so as to      optimise sales throughout theTerritory. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | The      Licensee is responsible for determining strategies for marketing, selling,      distributing and determining pricing and other terms of sale for the      Field. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | The      Licensee, if required, shall prosecute before Relevant Regulatory      Authorities any matter with respect to Field and the Non-Exclusive Field,      shall have the exclusive right to do so, and shall own all filings it or      its Related Body Corporate submit to any Relevant Regulatory Authority      relating to the Field and the Non-Exclusive  Field. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | Inspection      Right |
|----|-----------------------|

|   | (a) | The      Licensee shall permit Phosphagenics or its agent or representative at all      reasonable times to enter any place where the manufacture of the Field by      the Licensee shall be carried on for the purpose of inspection of methods      of manufacture of the Field and the Non-Exclusive  Field. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (b) | The      Licensee shall provide Phosphagenics with copies of all communications to      and from Relevant Regulatory Authorities relating to the Field and/or the      Non-Exclusive Field within ten (10) working days of receipt or      transmission of the communication. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | Confidentiality |
|----|-----------------|

| 6.1 | Phosphagenics      Confidential Information |
|-----|---------------------------------------------|

|   | (a) | The      Licensee agrees that Phosphagenics Confidential Information is and will be      considered for the purposes of this License Agreement to be confidential      information and will be the property solely of    Phosphagenics. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Licensee agrees that its officers, employees and/or agents will not      disclose or make direct or derivative use of the Phosphagenics      Confidential Information other than for the purposes of this License      Agreement and for obtaining the registration and approval, if any, of the      Field and Non-Exclusive Field from the Relevant Regulatory      Authorities. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | The      Licensee agrees to hold such Phosphagenics Confidential Information in      strict confidence and will disclose such Phosphagenics Confidential      Information only in strict confidence to its officers, employees or agents      or to those officers, employees, or agents of its subsidiaries or related      bodies corporate, only on a “need to know” basis and only to those      officers, employees, professional advisers and agents who agree to be      bound and obligated by the same provisions of confidentiality as the      Licensee. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.2 | Licensee      Confidential Information |
|-----|----------------------------------------|

|   | (a) | Phosphagenics      agrees that the Licensee Confidential Information is and will be      considered for the purposes of this License Agreement to be confidential      information and will be the property solely of the    Licensee. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Phosphagenics      agrees that its officers, employees and/or agents will not disclose or      make direct or derivative use of the Licensee Confidential Information      other than for the purposes of this License Agreement and for obtaining      the registration and approval, if any, of the Field and Non-Exclusive      Field from the Relevant RegulatoryAuthorities. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Phosphagenics      agrees to hold the Licensee Confidential Information in strict confidence      and will disclose the Licensee Confidential Information in only strict      confidence to its officers, employees or agents or to those officers,      employees, or agents of its subsidiaries or related bodies corporate, only      on a “need to know” basis and only to those officers, employees,      professional advisers and agents who agree to be bound and obligated by      the same provisions of confidentiality as  Phosphagenics. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 6.3 | Permitted      Disclosure |
|-----|---------------------------|

|   | (a) | any      information that is now or later becomes publicly available through no      fault of the party receiving such information (the “Recipient”) , its      officers, employees or agents; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | any      information that the Recipient obtains from a third party that is not      under a confidentiality obligation to the discloser of such information      with respect to such information; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | any      information that the Recipient already has in its possession prior to its      disclosure by the discloser of such information, as indicated by the      Recipient’s written records; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | any      information that the Recipient is required to disclose by Law or the      listing rules of a stock exchange on which the shares of the Recipient (or      a Related Body Corporate of the Recipient) are listed; provided, that      (i) the Recipient shall use diligent efforts to limit such disclosure      and to obtain confidential treatment or a protective order for such      Confidential Information, (ii) the Recipient shall allow the      disclosing party to participate in such process undertaken to protect      Confidential Information, (iii) the Recipient shall cooperate with      the disclosing party, upon the disclosing party’s reasonable request, in      connection therewith, and (iv) in the absence of a protective order      or other appropriate remedy, the Recipient may disclose only that portion      of such Confidential Information that is legally required to be disclosed;      or |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | any      information that is necessary or desirable to include in any application      for regulatory approval or Intellectual Property registration in the      Territory. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.4 | Use      of Other Parties’ Names |
|-----|----------------------------------------|

| 7. | Intellectual      Property |
|----|----------------------------|

| 7.1 | IP      Ownership |
|-----|-------------------|

|   | (a) | In      the event that the Program IP gives rise to patentable subject matter, the      parties shall join together to file and prosecute patent applications in      such parts of the Territory as they may agree upon. All Patents costs      shall be paid for by the Company. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Program      IP will be owned by the Company, except as  follows: |
|--------|-----|-------------------------------------------------------------------|

----

|   | (i) | All      inventions pertaining solely to Licensee Intellectual Property made by or      on behalf of any party or jointly will be owned solely by the      Licensee.  The parties hereby assign any and all existing and/or      future right, title and interest in and to Licensee Intellectual Property      to the Licensee.  The parties shall execute all documents and do      such things as are necessary or reasonably requested by the Licensee in      order to perfect the assignment referred to in this      clause 7.1(b)(i). |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | All      inventions pertaining solely to Phosphagenics Intellectual Property made      by or on behalf of any party or jointly will be owned solely by      Phosphagenics.  The parties hereby assign any and all existing      and/or future right, title and interest in and to Phosphagenics      Intellectual Property to Phosphagenics.  The parties shall      execute all documents and do such things as are necessary or reasonably      requested by Phosphagenics in order to perfect the assignment referred to      in this clause 7.1(b)(ii). |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | The      Licensee acknowledges and agrees that Phosphagenics may license or      otherwise exploit the Phosphagenics Intellectual Property in any manner      other than with respect to the Field in the  Territory. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.2 | Infringement |
|-----|--------------|

|   | (a) | In      the event of the Licensee becoming aware of a patent or other third-party      Intellectual Property Right which may be potentially infringed by the use      of the Phosphagenics Intellectual Property or upon receiving a notice      alleging such infringement, the Licensee will immediately notify      Phosphagenics.  The Licensee will at Phosphagenics’ expense      provide Phosphagenics with such assistance as Phosphagenics may reasonably      require in order to deal with the potential alleged      infringement. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Licensee agrees that it will not take or omit to take any step in relation      to the potential or alleged infringement, without first receiving the      informed prior written consent ofPhosphagenics. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.3 | Property      in and Sharing of Documents , Data and Other  Information |
|-----|-------------------------------------------------------------------------|

----

| 7.4 | Improvements |
|-----|--------------|

|   | (a) | If      Phosphagenics shall at any time during the Term devise, discover or      acquire rights in any Improvement it shall, to the extent that it is not      prohibited by law or by any obligation to any other person, promptly      notify the Licensee in writing giving details of it and shall, following      the request for the same, provide to the Licensee such information and      explanations as the Licensee shall reasonably require to be able to      effectively utilise the same. In any case where such Improvement      constrains or otherwise limits Licensee’s exploitation of the Field in the      Territory or the Non-Exclusive Field worldwide, and not dependant on the      rights licensed under this License Agreement, Phosphagenics shall grant      and hereby grants a royalty-free, paid-up, non-exclusive and irrevocable      licence under all rights protecting such Improvement throughout the world      to Licensee for use on the Field throughout the Territory and on the      Non-Exclusive Field worldwide under the terms of this License      Agreement. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | If      the Licensee shall at any time during the Term devise, discover or acquire      rights in any Improvement it shall, to the extent that it is not      prohibited by law or by any undertaking given to any other person,      promptly notify Phosphagenics in writing giving details of it and provide      to Phosphagenics such information or explanations as Phosphagenics may      reasonably require to be able effectively to utilise the same. In any case      where such Improvement is severable from and not dependant on the rights      licensed under this License Agreement, Licensee shall grant and hereby      grants a royalty-free, paid-up, irrevocable and non-exclusive licence      under all rights protecting such Improvement throughout the      world. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8. | Warranties      and Representations |
|----|-------------------------------------|

| 8.1 | The      Licensee’s warranties andrepresentations |
|-----|---------------------------------------------------------|

|   | (a) | it      has and will during the Term have the personnel, expertise, resources, and      capability to carry out its obligations under this License      Agreement; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | it      has and will during the Term have all other licenses, authorisations,      consents, approvals and permits required by applicable Laws in order to      perform its obligations under this License  Agreement; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | it      will at all times comply with any applicable Laws, cGMP and cGLP (if      applicable) in performing its obligations under this License      Agreement; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | it      has and will during the Term have the unfettered right, power and      entitlement to enter into and perform this License Agreement;      and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | it      has taken all necessary actions to authorise the execution and performance      of this License Agreement. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------|

----

| 8.2 | Phosphagenics’      warranties and representations |
|-----|----------------------------------------------------------|

|   | (a) | it      has and will during the Term have the unfettered right, power and      entitlement to enter into and perform this License Agreement;      and |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | it      has taken all necessary actions to authorise the execution and performance      of this License Agreement. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------|

|   | (c) | it      is the exclusive owner of the Phosphagenics Intellectual Property and it      has the unfettered right, power and entitlement to grant the license      provided in clause 2.1; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | it      is not aware of any Intellectual Property Rights owned by a third party      that will be infringed or misused by the manufacture, use, or sale of the      Field and/or the Non-Exclusive Field in the Territory or the exercise or      exploitation of Phosphagenics Technology for the Field and/or the      Non-Exclusive Field in theTerritory; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | except      as disclosed to the Licensee, as at the Effective Date and to      Phosphagenics’ best knowledge and belief no person has asserted any      written claim alleging: |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | that      the Phosphagenics Intellectual Property or any part thereof is      invalid; |
|--------|-----|----------------------------------------------------------------------------------------|

|   | (ii) | a      contrary claim to ownership of the Phosphagenics Intellectual      Property; |
|--------|------|-------------------------------------------------------------------------------------|

|   | (iii) | opposition      to the Phosphagenics Intellectual Property or any part      thereof. |
|--------|-------|--------------------------------------------------------------------------------------|

|   | (f) | to      Phosphagenics’ best knowledge and belief the exercise or exploitation of      Phosphagenics Intellectual Property will not infringe any third party’s      Intellectual Property Rights; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | to      Phosphagenics best knowledge and belief that the Phosphagenics Technology      is valid, and that there are no references, public disclosures, or other      information material to the rights inherent in the Phosphagenics      Technology; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | to      Phosphagenics’ best knowledge and belief as at the date of this License      Agreement there is no litigation or threatened litigation in relation to      Phosphagenics or the Phosphagenics Intellectual Property that relates to      the subject matter of this License Agreement, except as identified on      Exhibit D      hereto; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | to      the knowledge of Phosphagenics, no person is engaging in any activities      that constitute, or that Phosphagenics believes may constitute,      infringement of Phosphagenics, rights in the Phosphagenics Intellectual      Property in the Territory; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (j) | Other      than the Phosphagenics Technology, the Phosphagenics Intellectual Property      does not otherwise restrict Licensee’s exploitation of the Field in the      Territory and the Non-Exclusive Field worldwide, and should any      Phosphagenics Intellectual Property be asserted or determined to restrict      Licensee’s exploitation of the Field in the Territory, or the      Non-Exclusive Field worldwide, Phosphagenics shall and hereby does grant      Licensee an exclusive, royalty-free, irrevocable, and paid-up license to      exploit the Field embodying such Phosphagenics Intellectual Property      within the Territory, and a non-exclusive, royalty-free, irrevocable and      paid-up license to exploit the Non-Exclusive Field embodying such      Phosphagenics Intellectual Property worldwide;  and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (k) | it      will not during the Term offer for sale or sell products in the Field in      the Territory. |
|--------|-----|------------------------------------------------------------------------------------------------------|

| 9. | Liability      and Indemnities |
|----|--------------------------------|

| 9.1 | Phosphagenics      not liable; Phosphagenics indemnifies the  Licensee |
|-----|------------------------------------------------------------------------|

|   | (a) | except      as provided in clause 8.2, Phosphagenics disclaims all representations and      warranties, whether express, implied, or statutory, including any implied      warranty of merchantability or of fitness for a particular purpose and any      implied warranty arising from course of dealing or usage of      trade.  Except as provided in clause 8.2, there is no warranty      against interference with the Licensee’s enjoyment of the license granted      under this License Agreement or any rights to the Field or with respect to      infringement. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Phosphagenics      shall not be liable for: |
|--------|-----|---------------------------------------------|

|   | (i) | any      injury to or the death of any person (including any of the Licensee’s      personnel) arising out of the Licensee 's performance of its obligations      under this License Agreement; or |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | any      loss of or damage to any property of any person (including the Licensee      and its personnel) arising out of the Licensee’s performance of its      obligations under this License Agreement, except to the extent that the      same is caused by the negligence of Phosphagenics, provided that in no      case shall Phosphagenics be liable for the payment of damages in respect      of consequential losses; |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Phosphagenics      indemnifies, and shall defend and hold harmless, the Licensee against all      claims, actions, damages, losses (other than consequential losses),      liabilities, costs, charges, expenses and outgoings (collectively, “Losses”) that the      Licensee pays, suffers or incurs as a result of, in connection with, or      arising from: |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | breach      by Phosphagenics of this License Agreement (including any breach of a      warranty or representation given under clause  8); |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (ii) | any      infringement on the intellectual property rights of a third party because      of the use of the Intellectual Property contemplated by this License      Agreement; |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | any      claims by a third party that use of the Intellectual Property contemplated      by this License Agreement infringes on such third party’s rights;      or |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iv) | any      obligation of the Licensee under applicable law to withhold portions of      the amounts that the Licensee is required to pay pursuant to this License      Agreement. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.2 | The      Licensee indemnifies Phosphagenics |
|-----|---------------------------------------------|

|   | (a) | Subject      to clause 9.2(b), the Licensee indemnifies, and shall defend and hold      harmless, Phosphagenics from and against all Losses that Phosphagenics      pays, suffers or incurs as a result of, in connection with, or arising      from: |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | injuries      suffered or death sustained by persons as a result of the conduct of any      clinical trials in connection with the Field and/or the Non-Exclusive      Field; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | injuries      suffered or death sustained by persons as a result of any Field and/or the      Non-Exclusive Field developed pursuant to this License Agreement and      supplied by Phosphagenics toconsumers; |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | wilful,      tortious or negligent conduct on the part of the Licensee;    or |
|--------|-------|-------------------------------------------------------------------------------|

|   | (iv) | breach      by the Licensee of this License Agreement (including any breach of a      warranty or representation given by the Licensee under clause      8). |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Licensee shall not be required to indemnify Phosphagenics to the extent      that any Loss suffered or incurred by Phosphagenics arises as a result of      any wilful, tortious or negligent conduct on the part of Phosphagenics or      any breach by Phosphagenics of this License  Agreement. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 10. | Term      and Termination |
|-----|---------------------------|

| 10.1 | Term |
|------|------|

| 10.2 | Termination      with Cause |
|------|-----------------------------|

|   | (a) | the      other party: |
|--------|-----|-----------------------|

|   | (i) | is,      or is deemed by Law to be, unable to pay its  debts; |
|--------|-----|---------------------------------------------------------------|

|   | (ii) | resolves,      or proposes to resolve, that it be wound up;or |
|--------|------|---------------------------------------------------------------|

|   | (iii) | is      placed under official management; |
|--------|-------|-------------------------------------------|

|   | (b) | an      administrator, receiver or receiver and manager, or other insolvency      administrator is appointed in respect of any of the property or assets of      the other party; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | a      liquidator or a provisional liquidator is appointed to the other party,      except for the purposes of solvent amalgamation or reconstruction or      corporate reorganisation; or |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | the      other party enters into an arrangement or compromise with its creditors or      any class of creditors other than for the purposes of solvent amalgamation      or reconstruction or corporate reorganisation, provided that such      termination will be without prejudice to the rights and remedies of the      parties otherwise having arisen under this License    Agreement. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11. | Consequences      of Termination/Expiration |
|-----|---------------------------------------------|

| 11.1 | Return      of documents |
|------|--------------------------|

|   | (a) | Phosphagenics      will promptly deliver up or return to the Licensee any property of the      Licensee , including documents and records of the Licensee, in      Phosphagenics’ possession, custody or control (other than any      Phosphagenics ConfidentialInformation); |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | The      Licensee  will promptly deliver up or return to Phosphagenics      any property, including documents and records, of Phosphagenics in the      Licensee ’s possession, custody or control (other than any Licensee      Confidential Information); |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | The      Licensee  shall cooperate with Phosphagenics and a cancellation      of all or any licenses registered pursuant to this License Agreement and      shall execute any and all such documents and do acts and things as may be      necessary in such connection; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | The      Licensee  shall within, six (6) months of the date of      termination or expiry, transfer to Phosphagenics all Regulatory Approvals      and will work with Phosphagenics to ensure that such transfer      occurs; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | The      Licensee will promptly deliver to Phosphagenics all data information which      has been created or collected as a consequence of the carrying out of the      Development Plan including but not limited to any clinical trials      conducted in respect of the Field and/or the Non-Exclusive      Field. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | The      Licensee shall have the right to dispose of all stocks of the Field and/or      the Non-Exclusive Field in its possession and in the normal course of      manufacture at the date of termination or expiry provided that any royalty      payable under the provisions of this License Agreement shall be received      within a period of ninety (90) days following termination or expiry;      and |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | All      rights and licenses, including sublicenses granted under this License      Agreement, shall cease except to the extent expressly provided otherwise      under the terms of this LicenseAgreement. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11.2 | No      further rights |
|------|------------------------|

|   | (a) | If      Phosphagenics terminates this License Agreement under clause 10.2, then,      except as provided in clause 11.1, the Licensee will have no further right      to manufacture or sell the Field and/or the Non-Exclusive      Field. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Subject      to this clause 11, termination of this License Agreement will not      prejudice any accrued rights or liabilities of a party or excuse any party      from a breach of this License Agreement occurring prior to termination or      expiration or excuse any party from paying any amount which is or becomes      due and payable to the other party in respect of performance by the other      party prior to termination. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12. | Assignment |
|-----|------------|

| 12.1 | Restriction      upon Assignment |
|------|----------------------------------|

----

| 12.2 | Permitted      Assigns |
|------|------------------------|

| 12.3 | Restriction      upon Sub-Contracting |
|------|---------------------------------------|

| 13. | Force      Majeure |
|-----|--------------------|

| 13.1 | Force      Majeure Events |
|------|---------------------------|

| 13.2 | Reliance      Upon Force Majeure |
|------|----------------------------------|

| 14. | Dispute      Resolution |
|-----|-------------------------|

| 15. | Notices |
|-----|---------|

----

|   | If      to the Licensee: |
|--------|--------------------------|

|   | Attention: | Ted      Karkus |
|--------|------------|-----------------|

|   | Address: | The      Quigley Corporation |
|--------|----------|------------------------------|

|   |   | 621      N. Shady Retreat Road |
|--------|--------|--------------------------------|

|   |   | Doylestown,      PA 18901 |
|--------|--------|---------------------------|

|    | Facsimile: | (215)      345-5920 |
|--------------|------------|---------------------|

|   | If      to Phosphagenics: |
|--------|---------------------------|

|   | Attention: | Managing      Director, |
|--------|------------|-------------------------|

|   |   | Phosphagenics |
|--------|--------|---------------|

|   | Address: | Phosphagenics      Ltd. |
|--------|----------|-------------------------|

|   |   | 11      Duerdin Street, Clayton |
|--------|--------|---------------------------------|

|    |   | Victoria,      Australia 3168 |
|--------------|--------|-------------------------------|

|   |   | Facsimile:      61-3-9565 1151 |
|--------|--------|--------------------------------|

| 16. | Governing      Law; Jurisdiction and Venue |
|-----|--------------------------------------------|

| 17. | General |
|-----|---------|

| 17.1 | Relationship |
|------|--------------|

|   | (a) | The      parties are independent contractors and are not by this License Agreement      made agents or employees of theother. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | A      party has no authority to bind the other party in any manner whatsoever      and is not entitled at any time to hold itself out to third parties as      having authority to enter commitments, expenses, liabilities or      obligations of any nature on behalf of the first mentioned      party. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.2 | Further      acts |
|------|-------------------|

| 17.3 | Expenses |
|------|----------|

| 17.4 | Amendments |
|------|------------|

----

| 17.5 | Waiver |
|------|--------|

|   | (a) | Failure      to exercise or enforce or a delay in exercising or enforcing or the      partial exercise or enforcement of any right, power or remedy provided by      law or under this License Agreement by any party will not in any way      preclude, or operate as a waiver of, any exercise or enforcement, or      further exercise or enforcement of that or any other right, power or      remedy provided by law or under this License  Agreement. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Any      waiver or consent given by any party under this License Agreement will      only be effective and binding on that party if it is given or confirmed in      writing by that party. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | No      waiver of a breach of any term of this License Agreement will operate as a      waiver of another breach of that term or of a breach of any other term of      this License Agreement. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.6 | Counterparts |
|------|--------------|

| 17.7 | Indemnities |
|------|-------------|

|   | (a) | Each      indemnity in this License Agreement is a continuing obligation, separate      and independent from the other obligations of the parties, and survives      termination, completion or expiration of this License      Agreement. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | It      is not necessary for a party to incur expense or to make any payment      before enforcing a right of indemnity conferred by this License      Agreement. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.8 | Entire      License Agreement |
|------|-------------------------------|

|   | (a) | embodies      the entire understanding of the parties, and constitutes the entire terms      agreed on between the parties; and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | supersedes      any prior written or other agreement between the  parties. |
|--------|-----|----------------------------------------------------------------------------|

| 17.9 | Survival      of certain provisions; no merger |
|------|------------------------------------------------|

|   | (a) | Clauses      1, 2, 6, 7, 8, 9, 11, 14, 15, 16 and this clause 17 will survive      rescission or termination of this License  Agreement. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | If      this License Agreement is rescinded or terminated, no party will be liable      to any other party except: |
|--------|-----|--------------------------------------------------------------------------------------------------------------------|

----

|   | (i) | under      the clauses set out in clause 17.9(a);or |
|--------|-----|-----------------------------------------------------|

|   | (ii) | in      respect of any breach of this License Agreement occurring before      rescission or termination. |
|--------|------|----------------------------------------------------------------------------------------------------------|

|   | (c) | No      right or obligation of any party will merge on completion of any      transaction under this LicenseAgreement. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------|

----

| PHOSPHAGENICS LTD.           |
|------------------------------|
|                         |   |
| By:                          | /s/      Fred Banti |
|                         | Name:      Fred Banti |
|                         | Title:      Senior Vice President and Chief Business Officer |
|                         |   |
| THE      QUIGLEY CORPORATION |
|                         |   |
| By:                          | /s/      Ted Karkus |
|                         | Name:      Ted Karkus |
|                         | Title:      Chief ExecutiveOfficer |

----

| Name                                                                                                                           |   | Priority      date    |   | Number                        |
|--------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------|--------|-------------------------------|
|                                                                                                                           |   |                  |   |                          |
| A      carrier comprising one or more di and/or mono-(electron transfer agent)      phosphate derivatives or complexes thereof |   | 17      June 2005     |   | WO      2006/133506      |
| Formulation      Containing Phosphate Derivatives Of Electron Transfer    Agents                                               |   | 14      November 2000 |   | WO      02/40033              |
| Dermal      Therapy Using Phosphate Derivatives Of Electron Transfer      Agents                                               |   | 27      July 2001     |   | WO      03/011303             |
| Complexes      Of Phosphate Derivatives                                                                                        |   | 14      November 2000 |   | WO      02/40034              |
| Transdermal      Transport Of Compounds                                                                                        |   | 13      December 2001 |   | WO      03/049774             |
| Carrier                                                                                                                        |   | 9      August 2002    |   | WO      2004/014432           |
| Improved      Process for Phosphorylation and Compounds Produced by this      Method                                           |   | 14      May 1999      |   | WO      00/69865              |
| Carrier      Composition                                                                                                       |   | 23      December 2009 |   | US      provisional 61/289507 |
| New      Carrier Composition                                                                                                   |   | 19      February 2010 |   | US      provisional61/306115  |

----

----

|   | § | Peptides |
|--------|--------|----------|

|   | § | Amino      acids   |
|--------|--------|-------------------------|

|   | § | Lipoaminoacids      (Palmitoyl glycine |
|--------|--------|----------------------------------------|

|   | § | Alpha      hydroxy acids |
|--------|--------|--------------------------|

|   | § | Vitamins      B, C, D (all forms) |
|--------|--------|-----------------------------------|

|   | § | Alpha      lipoic acid |
|--------|--------|------------------------|

|   | § | Sodium      hyaluronate |
|--------|--------|-------------------------|

|   | § | Allantoin |
|--------|--------|-----------|

|   | § | Panthenol |
|--------|--------|-----------|

|   | § | Ceramides |
|--------|--------|-----------|

|   | § | TPM |
|--------|--------|-----|

|   | § | Niacinamide |
|--------|--------|-------------|

|   | § | Retinyl      propionate |
|--------|--------|-------------------------|

|   | § | Lycopene |
|--------|--------|----------|

|   | § | Omega-3      fatty acids |
|--------|--------|--------------------------|

|   | § | GABA |
|--------|--------|------|

|   | § | Polyphenols |
|--------|--------|-------------|

|   | § | Phytosterols |
|--------|--------|--------------|

|   | § | Quercetin |
|--------|--------|-----------|

|   | § | Tea      Tree Oil |
|--------|--------|-------------------|

|   | § | Evening      Primrose Oil |
|--------|--------|---------------------------|

|   | § | Phenylalanine |
|--------|--------|---------------|

|   | § | Glucuronolactone |
|--------|--------|------------------|

|   | § | Inositol |
|--------|--------|----------|

|   | § | Tyrosine |
|--------|--------|----------|

|   | § | Citicoline |
|--------|--------|------------|

|   | § | Taurine |
|--------|--------|---------|

----

----